Mobile devices have changed the state of play in the field of communication and start changing the way of performing financial transactions of all types. Mobile devices are commonly applied for financial transactions via a web banking site. Payments via mobile devices may be associated with credit cards, debit cards, gift cards, and virtual currencies. While mobile payments facilitate and stimulate the trade, the procedure of providing financial details and authenticating of identity may be tedious and time-consuming. Moreover, entering and keeping financial details may present risks of data theft, unauthorized access to financial instruments of the user, and so forth. Therefore, security of mobile payments for daily micropayments is needs improvement.